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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report July 8, 1999
(Date of earliest event reported)
KIMBALL INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
INDIANA
(State or other jurisdiction of incorporation)
0-3279 35-0514506
(Commission File Number) (IRS Employee Identification Number)
1600 Royal Street, Jasper, Indiana 47549-1001
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (812) 482-1600
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5. Other Events
Kimball International, Inc. Completes Sale of Business Units
Jasper, IN (July 8, 1999) - Kimball International, Inc. (NASDAQ: KBALB) today
announced they had recently completed the sale of two of its non-core business
units. On May 24, 1999, Kimball Furniture Reproductions (KFRI), a manufacturer
of Victorian/French-style furniture located in Montgomery, Alabama was sold to
an independently-owned producer of period reproduction furniture. On June 30,
1999, Tool Pro, which manufactures and services a variety of standard and
customized tooling and saw blade products located in Jasper, Indiana, was sold
to a leading manufacturer of tooling for the woodworking industry. Proceeds
from the divestiture of these businesses will be used in addition to the $100
million line of credit recently signed by Kimball to help fund future
acquisitions and general corporate purposes to support the Company's aggressive
growth strategy. The gain on the sale of these two business units is expected
to range from $.06 to $.07 per share of Class B common stock and will be
recorded in the Company's fiscal 1999 fourth quarter which closed on June 30,
1999.
"Kimball Furniture Reproductions and Tool Pro have played an important role in
the growth of our Company and have helped strengthen Kimball's reputation for
quality, craftsmanship and excellent customer service. We are confident that
under their new ownership, both KFRI and Tool Pro will continue to prosper,"
said Kimball International, Inc. Chairman and Chief Executive Officer, Douglas
A. Habig. "We will focus our energies on expanding our share of the core
markets in which we compete, including the residential furniture market
featuring our collections of Kimball Home Furniture."
Kimball International, Inc. is a diversified manufacturer of consumer durable
goods, including office, lodging, healthcare and home furniture, sold under the
Company's family of brand names. Kimball also supplies electronic assemblies on
a contract basis to customers in the automotive, medical, aerospace, defense,
telecommunications and computer industries. Other products produced by Kimball
on an original equipment manufactured basis include store fixtures, television
cabinets and stands, audio speaker systems, pool tables, plywood, dimension
stock and other lumber products.
For more information about Kimball International, Inc., visit the Company's web
site on the Internet at www.kimball.com.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Kimball International, Inc.
By: Robert F. Schneider
ROBERT F. SCHNEIDER
Executive Vice President,
Chief Financial Officer,
Assistant Treasurer
Date: July 8, 1999
